GM IPO
The ticker symbol GM is set to flicker again to lifestyle on screens throughout Wall Street this morning once the shares commence buying and selling. Here’s the official heads-up from the NYSE:
08:07 AM 11/18/2010
IPO
Trading Begins General Motors Company (GM) on the NYSE
General Motors Company, Common Stock, $0.01 par value, NYSE Ticker Symbol: GM Post: 11 Panel: H Underwriter Reports – Initial Public Offering Price $33.00 Settlement is subject to the closing of the Offering November 23, 2010.
So when all is mentioned and completed what the brand new GM’s market place capitalization search like? The numbers crunchers at S&P had this to say:
Based on the company’s weighted-average common shares outstanding of 1.63 billion as of the three-months ending September 30th, a newly-public General Motors would have a market capitalization of over $53 billion based on a price of $33 a share. That would catapult the company to being the sixth largest global auto maker in terms of market capitalization and within striking distant of Ford Motor Co, with market capitalization of $57.3 billion, among US publicly traded auto shares.
For the record, Ford’s market cap as of the end of trading yesterday was $56.74 billion, according to Thomson Reuters data.
taken from:
[...] On Thursday morning at the opening bell of the New York Stock Exchange, GM opened under an IPO price of $33.00 per [...]